MortgagesUndressed

Exposing Mortgage Facts - Making Mortgages Transparent

I Don’t Mean This Disrespectfully, Woman Don’t Shop Interest Rates Alone

This woman got in too deep. She should’t shop for loans either. For the same reason.

My wife Kathleen is as savvy as they come. In her interior design career she has skillfully managed the construction of many mansions. By the way, to her clients, thanks if you are reading this. She was pleased to serve you.

Yet, I would not want her to weather the hazards of loan shopping in this treacherous part of the business world. This photo triggered the reminder of just how badly a couple of single woman I knew were manhandled by their lender.

I don’t mean physically manhandled: the loan officer was a man, they were ripped off. Same thing in a way, one being a financial assault.

So women, be careful, get an expert real estate agents advice on a trustworthy lender, then have them give you feedback on your loan. Lar

3 Comments so far

  1. Teresa Boardman March 26th, 2007 8:37 am

    At the risk of having this taken the wrong way I would suggest that the same thing happens to men. It is interesting that home ownership is higher among single women than it is among single men and there are more male lenders than female, at least in my market. How is that for a comment that says nothing. :)

  2. Larry Cragun March 26th, 2007 10:01 am

    Pretty good.

  3. Marc Brinitzer March 26th, 2007 8:13 pm

    The most common theme I’m hearing these days is that of people getting ripped off by friends and family members (new) in the business.

    Sad, but it serves them right for thinking that shopping for a loan is like shopping for lettuce. Maybe next time they’ll realize that there is more to this than price.

Leave a reply

You must be logged in to post a comment.